DTN Closing Livestock Comment 10/15 16:11
Livestock Futures Close Stronger Than Expected
Tuesday's close was better than what was expected around the noon hour;
cattle prices rebounded modestly in some contracts all while hog issues surged
By ShayLe Stewart
DTN Livestock Analyst
Tuesday's cattle futures opened higher, fell lower and then picked up right
before closing higher in most contracts. Lean hog markets had a huge day with
significant price gains and aggressive slaughter. Hog prices are higher on the
National Direct Afternoon Hog Report, up $1.08 with a weighted average of
$59.24. December corn is down 4 1/2 cents per bushel and December soybean meal
is down $3.10. The Dow Jones Industrial Average is up 236.90 points and NASDAQ
is up 100.05 points.
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